Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

6. Finance Income and Costs

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6. Finance Income and Costs
 12 Months Ended
Dec. 31, 2017
Analysis of income and expense [abstract]  
Finance Income and Costs

Note 6 — Finance Income and Costs

 

The details of finance income and costs on the statements of loss and comprehensive loss are as follows:

 

Finance income   2017     2016*     2015*  
Finance income from variation of fair value on interest rate swap agreements   $ –     $ 18,096     $ 33,558  
Other finance income     9,223       1,521       1,331  
Total finance income   $ 9,223     $ 19,617     $ 34,889  

 

Finance costs   2017     2016*     2015*  
Finance cost on note payable to underwriters and other debt   $ 2,429,551     $ 2,638,729     $ 2,913,809  
Interest expense of bank loans, revolving line of credit and finance leases     891,288       1,117,405       1,045,243  
Total finance costs   $ 3,320,839     $ 3,756,134     $ 3,959,052  

 

*   Restated for discontinued operations (see note 9 — Discontinued Operations)